The biggest crypto news and ideas of the day |
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Longtime crypto critic Alex De Vries is now claiming each transaction on the Bitcoin network uses over 16,000 liters of water (think: small swimming pool), in a new research paper. He argued miner cooling systems together with inefficiencies in the electricity grid explain the massive usage. De Vries is behind Digiconomist, a website that is frequently cited regarding Bitcoin's electricity consumption. Industry insiders, politicians and academics have all poked holes in De Vries claims, with Cambridge University's Center for Alternative Finance, for instance, saying it makes little sense to look at consumption data for individual Bitcoin transactions, because the chain records transactions in ... blocks. |
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North Korea-linked hacking group Lazarus has stolen $3 billion in crypto over the past six years, according to a new report by cybersecurity firm Recorded Future. In 2022 alone, the group plundered $1.7 billion in cryptocurrency, likely to fund North Korean government efforts. Recorded Future's report comes on the heels of the U.S. Treasury Department sanctioning of Sinbad, a crypto mixer like Tornado Cash, which have both been implicated in laundering crypto stolen by Lazarus. |
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Elon Musk has inspired yet another meme coin. Yesterday, after a video of the serial entrepreneur cursing out former Twitter advertisers went viral, an unknown dev launched a token called GFY, short for "go f--k yourself." GFY rallied to a $25 million market cap in a matter of hours. There are many Musk-inspired coins, like TRUCK (in honor of Tesla's Cybertruck) and GROK (following the GrokAI chatbot debut). "Meme coins are huge parts of the crypto trading landscape, whether we like it or not," DFG crypto fund founder James Wo told CoinDesk's Shaurya Malwa (who in all honesty seems tired of writing about them). |
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Europe on Track to Become Global Crypto Hub Europe is poised to become a major hub of innovation and growth for digital assets and blockchain technology, as firms race to build up operations ahead of the implementation of sweeping new regulations that promote growth and protect investors. Galaxy, one of the industry's biggest providers of financial and investment services, has been expanding its footprint in the region, from hiring its first European CEO to building up its investment banking team. Read more here |
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